Ron Vincent - Mar 17, 2022 Form 4 Insider Report for Crexendo, Inc. (CXDO)

Role: Chief Financial Officer
Signature: /s/Ron Vincent
Stock symbol: CXDO
Transactions as of: Mar 17, 2022
Transactions value $: -$27,712
Form type: 4
Date filed: 3/21/2022, 09:08 PM
Previous filing: Mar 15, 2022
Next filing: Apr 14, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CXDO	Common Stock	Options Exercise	$0	+23.8K	+98.97%	$0.00	47.7K	Mar 17, 2022	Direct	F1
transaction	CXDO	Common Stock	Tax liability	-$27.7K	-6.93K	-14.51%	$4.00	40.8K	Mar 17, 2022	Direct	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	CXDO	Restricted Stock Units	Award	$0	+47.5K		$0.00	47.5K	Mar 17, 2022	Common Stock	47.5K	$0.00	Direct	F1, F3
transaction	CXDO	Restricted Stock Units	Options Exercise	$0	-23.8K	-50%	$0.00	23.8K	Mar 17, 2022	Common Stock	23.8K	$0.00	Direct	F1, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each RSU represents the right to receive, upon vesting, one share of CXDO common stock contingent on continued employment.
F2	The Company withheld 6,929 shares of common stock for payment of the associated payroll taxes, using the closing stock price on March 17, 2022 of $4.00. This transaction does not represent a sale by the reporting person.
F3	The RSUs vest 50% immediately on the grant date (3/17/2022) and 50% in 12 months (3/17/2023), subject to continuous employment. Shares will be delivered upon vesting.